MERAJ: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MERAJ
Largest movements
- Cash -€5,540
down €5,540 (-92.4%), from €5,998 to €458
mainly Trade debts (-€20,584) and Contributions, distributions and other (-€5,287)
- Receivables within one year +€2,168
up €2,168 (+91.4%), from €2,372 to €4,540
of which Other amounts receivable: +€1,294
- Profit (loss) carried forward +€22,536
up €22,536 (+66.4%), from -€33,933 to -€11,397
- Trade debts -€20,584
down €20,584 (-90.4%), from €22,766 to €2,182
- Contributions -€5,287
down €5,287 (-27.1%), from €19,500 to €14,213
- Turnover +€316,196
up €316,196 (+283.1%), from €111,680 to €427,877
- Purchases and services +€289,310
up €289,310 (+250.8%), from €115,342 to €404,651
- Gross operating margin +€26,887
up €26,887, from -€3,661 to €23,226
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,370 | €4,998 | -€3,372 | -40.3% |
| Current assets | 29/58 | €8,370 | €4,998 | -€3,372 | -40.3% |
| Amounts receivable within one year | 40/41 | €2,372 | €4,540 | +€2,168 | +91.4% |
| Trade receivables | 40 | - | €875 | +€875 | |
| Other amounts receivable | 41 | €2,372 | €3,665 | +€1,294 | +54.5% |
| Cash at bank and in hand | 54/58 | €5,998 | €458 | -€5,540 | -92.4% |
| Total equity and liabilities | 10/49 | €8,370 | €4,998 | -€3,372 | -40.3% |
| Equity | 10/15 | -€14,433 | €2,816 | +€17,249 | |
| Contributions | 10/11 | €19,500 | €14,213 | -€5,287 | -27.1% |
| Profit (loss) carried forward | 14 | -€33,933 | -€11,397 | +€22,536 | +66.4% |
| Amounts payable | 17/49 | €22,803 | €2,182 | -€20,621 | -90.4% |
| Amounts payable within one year | 42/48 | €22,803 | €2,182 | -€20,621 | -90.4% |
| Trade debts | 44 | €22,766 | €2,182 | -€20,584 | -90.4% |
| Suppliers | 440/4 | €22,766 | €2,182 | -€20,584 | -90.4% |
| Taxes, remuneration and social security | 45 | €36 | - | -€36 | |
| Taxes | 450/3 | €36 | - | -€36 | |
| Turnover | 70 | €111,680 | €427,877 | +€316,196 | +283.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €115,342 | €404,651 | +€289,310 | +250.8% |
| Other operating charges | 640/8 | - | €583 | +€583 | |
| Gross operating margin | 9900 | -€3,661 | €23,226 | +€26,887 | |
| Operating profit (loss) | 9901 | -€3,661 | €22,643 | +€26,304 | |
| Financial charges | 65/66B | €59 | €107 | +€48 | +80.7% |
| Recurring financial charges | 65 | €59 | €107 | +€48 | +80.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,720 | €22,536 | +€26,257 | |
| Profit (loss) for the period | 9904 | -€3,720 | €22,536 | +€26,257 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,720 | €22,536 | +€26,257 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.